The Economic Alliance of Greater Baltimore (EAGB), in collaboration with the Baltimore Development Corporation and Baltimore County Department of Economic and Workforce Development, has been awarded a major grant from the federal Economic Development Administration (EDA) that will help to foster job growth and economic expansion through the region’s innovation districts.

The $233,500 direct investment from the EDA will assist the organizations in creating an economic development plan for the region’s innovation districts. “The project represents an incredible opportunity to market Greater Baltimore in new and exciting ways that ultimately will put this region front and center on the global stage for innovation,” says Shannon Landwehr, President and CEO of the EAGB.

Innovation districts are geographic areas where leading-edge anchor institutions and companies cluster and connect with start-ups, business incubators, and accelerators. This allows for a critical mass of talent and innovation to mingle with other entrepreneurs and have access to everything from legal advice to sophisticated lab equipment, promoting creativity and collaboration to advance innovation and economic development.

By honing in on Baltimore’s diversity and drawing from its rich assets and resources, the grant aims to improve employment opportunities for all residents. The project will create an economic development action plan that supports the current innovation districts that are growing organically around the region.

“The Baltimore region has two world-class bioparks, an abundance of incubators, and a growing number of maker spaces, and this grant will help identify not only the strengths and opportunities, but also the gaps, so that we can determine how to maximize the economic impact of all these distinct innovation areas in a more cohesive manner,” says William H. Cole, President & CEO of the Baltimore Development Corporation. “Increased interaction and collaboration among all the different innovation entities will enable them and the businesses that originate from them to grow and thrive, resulting in more job opportunities and continuing to improve the economic health of the region.”

Will Anderson, Director of Economic and Workforce Development for Baltimore County, agrees, adding, “There is a real buzz around this innovation project that is large and growing. Why? It's because a staggering abundance of innovative work exists in metropolitan Baltimore, tucked inside our business, education, and community circles. Bringing it all to daylight and connecting it up is an important step in nourishing our unique city-county connections. I think EAGB may truly blow some people away with the discoveries ahead."

“The Baltimore region is rich in entrepreneurship and innovation, but is not recognized for the innovation districts which are popping-up across the area in the same way as markets like Boston or St. Louis. By increasing awareness of what these hubs offer and the economic opportunities they’ve created, we can begin to roadmap best practices that will benefit not only the rest of the region, but metro areas around the world. We see this grant as a way to showcase how a region can foster economic growth through innovation, while also creating a unique and authentic sense of place,” Landwehr concludes.

Innovation districts are already springing up around John Hopkins, the University of Maryland Baltimore, Innovation Village, Towson University, and UMBC. The new project will encourage expansion of the R&D, tech transfer, commercialization, and start-up activity already occurring in these areas, as well as the emergence of additional innovation districts.

The grant specifically will be used to inventory existing incubators and economic drivers and identify resources that support the region’s innovation sectors. The project will map existing resources in the region, overlaid with demographics and supporting features to clearly illustrate both the region’s assets and areas of opportunity. The project plan will also be shared with stakeholders through town halls.

EDA grants are awarded through a competitive process based upon the application’s merit, the applicant’s eligibility, and the availability of funds. More information on EDA‘s grant process and investment process can be found at www.eda.gov.

For more information, contact the Economic Alliance of Greater Baltimore at 410-468-0100 or www.greaterbaltimore.org.